Ever dreamed of owning a home in a pretty Italian village? The news you've been waiting for has finally arrived.You can now buy one for just over a dollar.

Ollolai, a destination in the mountain region of Barbagia on the Mediterranean island of Sardinia, is selling hundreds of abandoned homes for just €1 ($1.2).

It's not the first Italian town to try the gimmick, but it seems to be the first to live up to the promise. It's also got the beauty and history needed to draw people in.

The real estate bonanza comes with a catch, though. The 200 stone-built dwellings up for grabs are in poor condition and buyers must commit to a refurbishment within three years -- which will likely cost about $25,000.

Vito Casula, a retired builder, was the first to snap up a two-story house for less than the cost of a cappuccino.

He transformed his new home using environmentally friendly materials, but kept the original decor, recycling old furniture.

"We live nearby and frequently visited Ollolai. Then one day my wife saw the ad in the newspaper. It was an opportunity," says Casula. "This quiet town is frozen in time. It offers a peaceful, healthy life."

He recommends the village to anyone who "is sick with too much stress and needs a break."

"The fresh air, zero smog and great views have a healing power. My bones and back don't hurt anymore," he adds.

Casula says Ollolai's relaxing vibe, delicious cuisine and friendly locals are among its top selling points.

"Residents are so open and friendly they make you feel at home. They never allow me to pay for anything at the bar and constantly invite us over for lunch and dinner," he adds.

I did it the other way around, retired in Canada from Europe.I found stress is proportional to the amount of motors you keep running so sold all real estate and settled down with one house.And 25000$ to renovate one of those houses..... That amount barely covers the (italian) wine!!